thyssenkrupp Automotive, NSK Steering to explore JV

The steering businesses of both companies are highly complementary and synergetic in product competencies in addition to other areas

Japan-based NSK, a manufacturer of intelligent steering systems, engine and transmission bearings, and bearings and German conglomerate Thyssenkrupp AG, a supplier of automotive parts such as steering systems, dampers, camshafts, chassis, and body-in-white (BIW), have signed a memorandum of understanding to explore a joint venture between NSK Steering and thyssenkrupp Automotive, according to a press release dated 12 May.